Doug Lebda, the founder, chairman, and CEO of LendingTree, died on Sunday in an ATV accident, the company confirmed. He was 55.
Following his passing, LendingTree’s board of directors appointed Scott Peyree, the company’s chief operating officer, as CEO. “We are deeply saddened by the sudden passing of Doug,” the board said in a statement. “Doug was a visionary leader whose relentless drive, innovation, and passion transformed the financial services landscape, touching the lives of millions of consumers.”
Lebda founded LendingTree originally called CreditSource USA in 1996 after his own frustrating experience securing a mortgage for a condominium. “I was frustrated by the process as most people are,” he told The Daily Item in 2017. “My insight that there might be a more efficient way for consumers and lenders to find each other came as a result of my work in consulting and auditing.”
His idea was simple yet revolutionary: create a digital marketplace where consumers could compare loan offers from multiple banks, much like how travel sites let users compare airfare. The model took off, making LendingTree one of the first major platforms to modernize personal finance through online comparison shopping.
Headquartered in Charlotte, North Carolina, LendingTree operates as a loan aggregator rather than a lender, allowing customers to browse quotes from over 300 financial institutions for mortgages, auto loans, personal loans, and credit cards. Consumers enter their financial details and receive prequalified rates all without directly applying to multiple banks.
Before founding the company, Lebda worked as an auditor and consultant at PwC. He later earned his MBA from the University of Virginia’s Darden School of Business, returning to complete the degree after launching LendingTree. Over the years, Lebda became a respected figure in the financial technology industry, frequently appearing on networks such as Bloomberg, CNBC, and Fox Business to discuss innovation and the economy.
In a statement following his death, Peyree said, “The news of losing Doug was devastating. But one of the most immediate impacts of his legacy is the strong management team he put in place at LendingTree. I look forward to leading our team and continuing our shared vision with Doug into the future.”
Lebda is survived by his wife, Megan, and their three daughters. “It is impossible to capture the depth of who Doug was and what he meant to all of us,” Megan Lebda told WCNC, a Charlotte TV station. “He was compassionate, generous, and endlessly curious about the world and the people around him. His energy was magnetic, his smile contagious, and his presence was a source of comfort and inspiration. Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world.”
Pat McCrory, former North Carolina governor and longtime friend of Lebda, paid tribute on social media, writing, “I have lost a true friend, and our state has lost one of America’s greatest entrepreneurs. Doug Lebda could have put LendingTree’s headquarters anywhere in the nation, but he chose Charlotte to be his home. We were lucky to know his passion and heart.”
McCrory told The Charlotte Business Journal that the fatal ATV accident occurred on a farm in North Carolina that Lebda was developing. “He was so proud of that farm,” McCrory said.
The U.S. Consumer Product Safety Commission warns that off-highway vehicles like ATVs carry serious risks, including overturns, collisions, and occupant ejections. Between 2018 and 2020, 2,448 deaths in the U.S. were linked to off-highway vehicles, with two-thirds involving ATVs.
Doug Lebda leaves behind a powerful legacy as a pioneer who reshaped how Americans borrow money and as a leader whose vision transformed LendingTree into a cornerstone of modern consumer finance.
